Reverse Logistics is the opposite of the traditional supply chain which manufactures and distributes goods to end users. Reverse logistics is the need to send products back from their end user to the distributor, retailer or manufacturer. You can think about the "R"s of Reverse Logistics: returns, recalls, repairs, repackaging, recycle and recovery through recommerce.
Yes, if not managed properly, companies can be fined for improper disposal for violating environmental regulatory requirements, brand integrity could be compromised in the secondary market, increased data visibility can help identify trends in product quality and fraud.
Product returns refers to the customer-facing aspect of initiating a product return. Reverse logistics refers to the entire secondary lifecycle of that product return which could include a customer shipping the product back to a retailer, the retailer receiving that product back into inventory, inspecting it, performing repairs or refurbishment, putting it back into stock and reselling it, donating it or recycling it.
We recommend starting with the data. Understand your current data and processes to the best of your ability and apply the best fit in processes and technology to improve your net recovery.
There is still residual value in returned merchandise even if it can't be re-stocked and resold. Examples include a review of your return to vendor programs to reduce recovery time, selling in secondary markets, recycling and donation to reduce environmental impact. If you don't have an effective reverse logistics strategy you could be leaving money on the table.
According to one study, 92% of customers said they would buy again if the product returns process was easy. Ignoring your reverse supply chain could lead to poor customer experiences if it delays refunds or is difficult to navigate.
Cost varies depending upon the scope of the program and any offsetting expense reductions that could be gained like overhead savings, transportation expenses and improved return to stock percentages.
Sustainability is foundational to reverse logistics, a main objective is to get products back into the market for a second use and that could include donation, recycling or parts harvesting.
The objectives may vary depending on company specifics but most commonly the goals are to reduce storage costs by analyzing current vendor agreements and policies related to returns, improve customer satisfaction through quicker cycle times and maximize net recovery by gaining the highest net benefit for each return regardless of channel.
We provide a comprehensive solution that manages every part of the reverse logistics from beginning to end so you can focus on other important parts of your business. If you have specific problems to be solved we can use a modular approach. Outsourcing logistics allows your team to focus on the products, sales and marketing needed to grow your business.
G2 solutions include every aspect of reverse logistics, we use cutting edge technology to provide item level visibility and data driven decisioning to consistently maximize the value from every return. To learn more about outsourcing to our team, or to ask any questions, contact us at firstname.lastname@example.org
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